Benzinga | Oct 13, 2021 01:38PM EDT

Sono-Tek Q2 Sales $4.07M, Up 17% YoY

Sono-Tek Corporation (NASDAQ:SOTK), the leading developer and manufacturer of ultrasonic coating systems, today reported financial results for the second quarter and first half periods of fiscal year 2022, ended August 31, 2021.

Second Quarter FY2022 Financial Highlights:

(Compared with prior-year period unless otherwise noted)

* Net sales were $4,070,000, up 17% or $589,000, driven by increased sales of OEM systems to the China market.

* Gross Profit increased 28% to $2,074,000 due to higher sales and product mix.

* Gross Margin expanded 440 basis points to 51.0% primarily due to product mix.

* Operating income increased 123% to $449,000, compared to $201,000.

* Net income was $344,000, an increase of 93%.

* Backlog reached a record high of $6,332,000, an increase of 45% compared with backlog of $4,380,000 on May 31, 2021 (the end of the fiscal Q1) and increased 64% compared to backlog of $3,851,000 on February 28, 2021 (the end of fiscal 2021).

* Uplisted to Nasdaq Capital Market on August 27, 2021.